By Bill O'Boyle

April 28, 2008

U.S. Rep. Paul Kanjorski said it's time for to stand up to the big oil companies and "shout out, dammit, we've had enough."

Kanjorski, D-Nanticoke, was in town Monday to announce his introduction of H.R. 5800 - the Consumer Reasonable Energy Price Protection Act of 2008. The bill, introduced on the House floor on April 15, would allow the federal government to tax windfall oil and gas profits, some of which are, Kanjorski said, resulting in exorbitant oil and gas prices that average Americans struggle to afford. The 12-term incumbent said industries yield windfall profits when their earnings exceed what the Reasonable Profits Board determines is rational, as laid out in the legislation.

Speaking at Phil's Sunoco Gas Station on South Main Street, Kanjorski blasted the Bush Administration, saying the more than $15 billion in tax breaks given oil companies have "done nothing" to benefit consumers. Gas was priced at $3.59.9 for Octane 87 at Phil's.

In 2007, Kanjorski said the Big Five oil companies reported record profits, with Exxon Mobil making more than $40 billion - the largest corporate profit in American history. In a few days, Exxon is expected to announce its net income will rise around 22 percent. A windfall tax would help discourage these industries from consistently increasing their prices, the Congressman said.

"I am pleased to introduce a bill that would tax oil and gas companies for their excessive profits while encouraging them to decrease the prices for their products," Kanjorski said. "Like my constituents in northeastern Pennsylvania , I am appalled by the spiraling prices at the gas pump and in home heating fuel. I am working to change the sharp contrast between the industries' growing profits and Americans' increasing inability to pay for oil and gas."

Kanjorski said the oil companies are not sympathetic to the plight of the American gas customers. He said things have to change and change soon.

"We're paying $120 per barrel of oil, when we used to pay $20 or $30," Kanjorski said. "And we have sent 130,000 of our sons and daughters to fight to preserve their independence."